On 25th/07 I posted "If iron ore trade around $150/t big players eg BHP, RIO, FMG, Vale will just increase productions to hold price at that level and this will reduce the need for a NEW multi-billion dollar project."
Three days later... Have a view on Inside Business on 28th/07 iron ore price by Stephen Bartholomeusz from the Business Spectator, 2MG Asset Management portfolio manager Mike Mangan and Goldman Sachs chief Australian economist, Tim Toohey
http://www.abc.net.au/insidebusiness/
Massive increase productions by BHP, RIO and FMG... they are low cost and will hold price down.
Actually, Tim Toohey Goldman Sachs predicting $80/t after analysed new supplies and demands. I'm not as pessimistic as Tim. I think $100/t.
Just IMHO.
MFE Price at posting:
3.6¢ Sentiment: None Disclosure: Not Held
